Paragraph 10

(1)

Article 12 (operational reliability) is amended as follows.

(2)

In paragraph 1—

(a)

omit the first subparagraph;

(b)

in the second subparagraph—

(i)

for the words from the beginning to “ESMA” substitute “The national regulatory authority, the FCA, the CMA”; and

(ii)

omit “or Article 10”;

(c)

omit the third subparagraph.

(3)

In paragraph 2—

(a)

in the first subparagraph, for “the Agency” substitute “the national regulatory authority”;

(b)

omit the second subparagraph;

(c)

in the fourth subparagraph, for “The Agency” substitute “The national regulatory authority”.